Hi there, accounts473.
Welcome to the QuickBooks Community. I'll ensure to share details about the decimal setting in QuickBooks Online (QBO). Then, how exchange rates in currency work.
The foreign exchange rates used in QuickBooks Online are based on a locked-in daily rate from the Markit (acquired the Wall Street On Demand foreign exchange rates).
Adding three digits in your transactions after the decimal in Home currency format is currently unavailable. QuickBooks Online has two decimal places by default or the system is only set to two decimal points.
Meanwhile, you can only add 3 digits after the decimal point in the Edit currency exchange rate section. From there, you'll have the option to select and type a specif rate and where the decimal will be placed. Before doing that, make sure that the Multicurrency feature is turned on to add an exchange rate.
Here's how:
- Go to the Gear icon ⚙️. Then, pick Currencies.
- Click Edit currency exchange under the Action column.
- Choose Your rate. Then, enter your currency or the three digits number after the decimal.
- Hit Save.
- You can also select the small arrow ▼ icon in the Action column to choose Revalue currency.
- Click Revalue and save.
QuickBooks is compliant with the foreign exchange rate on how money conversion is being calculated. To learn more about how multi-currency and the exchange rate works in QuickBooks, please click each article below:
Let me know if there's anything else I can help you with using the Multicurrency feature in QuickBooks. I'm always here to help.
